Addison’s five years as Governor of the BoG; a look at some of his accomplishments

Date:

Share post:

Dr Ernest Addison, Governor of the Bank of Ghana (BoG), celebrated five years in office this week, having been appointed by President Nana Addo Dankwa Akufo-Addo.

President Akufo Addo first appointed Dr. Ernest Addison in April 2017, following the resignation of Dr. Abdul- Nashiru Issahaku.

He was the African Development Bank’s Lead Regional Economist at its Southern African Resource Centre prior to his appointment.

He was the Bank of Ghana’s Director of Research from 2003 to 2011, and the West African Monetary Institute’s Chief Economist from 2001 to 2002.

The first four-year term of Dr. Addison

For some, Dr. Adison’s first term has been credited to some reforms that have led to the stability of the banking sector.

These include the recent -clean-up of the banking industry, which the Bank of Ghana claims has put the sector in a strong position to withstand the COVID-19 shocks and recent challenges that have hit the economy. 

He has also championed several reforms that have improved payments in the country, enhancing credit extension by commercial banks to businesses in Ghana. 
Under the tenure of Governor Addison, the Bank has received several awards including the Central Bank of Year in the world.

President Akufo-Addo while swearing in Dr Addison and the Board into office in his second term on Friday, August 20, 2021 said he chose to do that by himself instead of the Finance Minister because he wanted to use the occasion to thank the bank under the leadership of Dr Addison for what he describes as stellar work done to support his administration in growing the economy.

 “I welcome all of you to Jubilee House, the seat of the nation’s presidency and I congratulate the Governor, ex-officio the chairperson and members of the newly constituted board of the Bank of Ghana on their well-deserved appointment.

“I am pleased not only to have sworn into office members of the board of the Bank of Ghana a few moments ago but also to have this opportunity to comment on the invaluable contribution of the bank to the transformation agenda of the government.

“In the past few weeks a number of boards have been reconstituted and duly inaugurated and verily members of these boards have been sworn into office by their respective sector ministers however I decided to swear into office the board of the Central bank myself. 

” I did so in order to have an appropriate platform to express  my sincere appreciation  to the board and management  of the bank  for the stela work they have done for our nation since my assumption of office in January 2017.”

Related articles

President Mahama approves Earmarked Funds Capping and Realignment (Amendment) Bill, 2025

President John Dramani Mahama on Wednesday, signed into law the Earmarked Funds Capping and Realignment (Amendment) Bill, 2025.The...

President Mahama assents to Ghana Gold Board Bill, 2025

President John Dramani Mahama has assented to the Ghana Gold Board Bill, 2025, establishing the Goldboard to oversee,...

Agortime-Ziope DCE secures 100 per cent endorsement, pledges to embrace challenges and drive development

The newly appointed District Chief Executive (DCE) for Agortime-Ziope, Mr Alfred Klu Odikro, has received a 100 per...

Airlines have alerted Heathrow about the power supply days before it shuts down.

Heathrow Airport was warned about the "resilience" of its power supply in the days before a fire which...